Yearn Finance (YFI) Plunges 13% on Reports of Andre Cronje Leaving Crypto

Andre Cronje, maybe best-known for his work on Fantom and Yearn Finance, alongside Anton Nell – senior options architect on the Fantom Foundation – will reportedly be leaving the cryptocurrency house.

• In a Twitter thread on March sixth, 2022, Anton Nell – senior options architect on the Fantom Foundation – announced that Andre Cronje and him will stop contributing to the crypto house.

Andre and I’ve ecided that we’re closing the chapter of contributing to the defi/crypto house. There are round 25 apps and companies that we’re terminating on 03 April 2022.

• One of the stated companies is YearnFi – a front-end interface for Yearn Finance (YFI) that Cronje had been working on.
• It’s value noting that this doesn’t imply that Yearn Finance will cease working in any form or kind. However, Cronje is the one who got here up with the protocol within the first place, and it was an iconic transfer again initially of DeFi Summer in 2020.
• Commenting on the matter was additionally YFI’s Banteg, who stated:
  

   

  People burying YFI, you do notice Andre hasn’t labored on it for over a yr? And even when he did, there are 50 full-time individuals and 140 part-time contributors to again issues up.

• The information was met with an on the spot nuke in YFI’s value, which misplaced about 13% instantly and plunged to only above $17K from nearly $20,000.

• FTM can also be down about 13% previously 24 hours.
• As as to if or not Cronje plans to return, Anton Nell’s thread signifies in any other case:

Unlike earlier “constructing in defi sucks” rage quits, this isn’t a knee jerk response to the hate obtained from releasing a venture, however a choice that has been coming for some time now.

Thank you to everybody that suppoerted us over the previous few years.